Asia
Congyu Intelligent Agricultural Eyes HK$32.9 Million from Share Placement; Shares Surge 29%
Congyu Intelligent Agricultural (HKG:0875) agreed to place up to 139.8 million shares to raise net proceeds of HK$32.9 million, according to a Monday Hong Kong bourse filing.Shares of the agricultural products trader were up 29% in Tuesday afternoon trading.The shares, representing around 16.7% of the company's enlarged issued shares, will be placed to at least six investors at HK$0.24 apiece.The company plans to use proceeds to repay borrowings, as well as for general working capital.
HKG:0875
